Legacy Tips of the Week

Trivia Question❓

What is the name of the medieval English legal doctrine that allowed for the transfer of property through a will, and is considered a precursor to modern estate planning laws?

Answer at the bottom of the newsletter

Balancing legacy goals with retirement planning is crucial for ensuring long-term financial security and fulfilling personal aspirations. As individuals approach retirement, it’s essential to integrate legacy considerations—such as leaving an inheritance or supporting charitable causes—into their overall financial strategy.

One effective approach is to start by defining your legacy goals. Consider what you want to leave behind for loved ones or how you wish to support your community. This clarity will guide your financial decisions. Once your goals are established, assess your current retirement plan. Evaluate your savings, investments, and income sources to determine if they align with both your retirement needs and legacy aspirations.

Also, prioritize your financial resources. You may need to adjust your savings strategy to ensure adequate funds for retirement while allocating resources for your legacy goals. For example, consider utilizing tax-advantaged accounts or estate planning tools, like trusts, which can help manage assets and ensure they are distributed according to your wishes.

Regularly review and update your plans as life circumstances change. Factors like market conditions, changes in income, or evolving family dynamics can impact both retirement and legacy goals. 

By actively integrating legacy goals into retirement planning, individuals can create a holistic strategy that ensures they enjoy their retirement while confidently passing on their values and resources to future generations. This balance not only provides peace of mind but also fosters a sense of fulfillment in knowing that both personal and family legacies are secured.

Make Your Funeral A Teaching Moment 

Stan Miller is a nationally recognized estate planning attorney, a #1 Amazon best-selling author, the co-host of the Your Life Your Legacy podcast, and one of the cofounders of Wealth Counsel, the largest estate planning software program used by estate attorneys.

On this educational lunch and learn, Stan will share:

Your death is an occasion to share your wisdom, life lessons and some of the stories of your life many people don’t know.

This is an opportunity that should not be wasted.

The people who are most important in your life will be there. Their children, and perhaps their grandchildren, will also be there. For a few hours, you will be the focus of their attention. You can make this a powerful teaching moment.

Register now and learn how to Make Your Funeral A Teaching Moment

Your lunch instructions will be in your confirmation email and text, so make sure to enter your correct email and cell phone numbers. 

Date: Thursday, October 24th, 2024

Time: 12-1PM Eastern

Place: Zoom

Register here

💡 Answer to Trivia Question:

The doctrine of feudal tenure.